Republic Services (NYSE:RSG – Free Report) had its price objective upped by Wells Fargo & Company from $180.00 to $188.00 in a research report report published on Tuesday, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.
Several other analysts have also recently commented on the stock. Oppenheimer increased their price target on shares of Republic Services from $172.00 to $182.00 and gave the company an outperform rating in a research note on Friday, January 12th. UBS Group raised Republic Services from a neutral rating to a buy rating and increased their target price for the company from $155.00 to $175.00 in a research note on Monday, October 23rd. Citigroup boosted their target price on Republic Services from $178.00 to $190.00 and gave the stock a buy rating in a research report on Thursday, January 18th. Stifel Nicolaus raised their price objective on Republic Services from $175.00 to $187.00 and gave the stock a buy rating in a research note on Tuesday, December 19th. Finally, Wolfe Research began coverage on shares of Republic Services in a research report on Tuesday, October 17th. They set a peer perform rating for the company. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $169.33.
Republic Services Stock Performance
Republic Services declared that its board has authorized a stock buyback plan on Thursday, October 26th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Hedge Funds Weigh In On Republic Services
Several institutional investors and hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Republic Services by 0.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,150 shares of the business services provider’s stock worth $4,147,000 after purchasing an additional 66 shares during the period. Parcion Private Wealth LLC raised its position in Republic Services by 0.3% in the fourth quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider’s stock worth $3,926,000 after acquiring an additional 68 shares during the period. Stokes Family Office LLC boosted its stake in Republic Services by 2.2% in the third quarter. Stokes Family Office LLC now owns 3,209 shares of the business services provider’s stock valued at $457,000 after acquiring an additional 70 shares during the last quarter. WASHINGTON TRUST Co grew its position in shares of Republic Services by 4.5% during the 4th quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock valued at $267,000 after acquiring an additional 70 shares during the period. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Republic Services by 2.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 2,680 shares of the business services provider’s stock worth $411,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 57.23% of the company’s stock.
About Republic Services
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.
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